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Privatisation
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★ Privatisation

Thames are in big trouble.  They’re in the front seat of this slow-motion car crash.  Thames Water: Inside the Crisis I, comment, BBC 2025  

 

We should be thoroughly outraged by this.  We have been scammed.   ibid.  Fergal Sharkey  

 

I’m working for a company that’s on its knees, and the people running it, seem to me like they’re running it into the ground.  ibid.  employee  

 

The Good News: Profit: £140 million.  The Bad News: Debt: £15 billion.  ibid.  caption 

 

Thames Water says it will run out of money by next June.  ibid.  employee

 

Nobody comes to work to put shit in rivers.  ibid.

 

Raw sewage overflowing into rivers and streams  these are the obvious signs of trouble at Thames Water.  ibid.  news  

 

The system is stretched to the absolute maximum it can.  ibid.  employee 

 

These storm tanks are 1935.  ibid.

 

Last year, the amount of sewage in the River Thames quadrupled.  ibid.  news

 

The biggest thing that shocked me is that state of our sites.  ibid.  employee    

 

Thames has catagorically underinvested.  ibid.

 

Ofwat have labelled our plan inadequate.  ibid.  CEO

 

This whole industry has become nothing more than a legitimate rip-off.  ibid.  Fergal Sharkey 

 

Unfortunately, we have seen a high number of fish kill.  ibid.  employee

 

 

Thames Water has run up debts of more than £15 billion, and wants to put up customer bills by more than 50%.  Thames Water: Inside the Crisis II

 

Thames Water has received the biggest fine of £100 [£104] million.  ibid.  TV News  

 

If we don’t get it sorted, we will end up polluting the Thames.  ibid.  employee     

 

Things can go wrong very quickly.  ibid. 

 

Finding a route out of this, an investment is really important.  ibid.  director of communications

 

We’ve been spilling to the river for two weeks on the trot.  ibid.  Whitney works   

 

A short-term cash loan of up to £3 billion has been extended to the company by creditors.  ibid.  comment

 

So the interest cost is a coupon of 9.75%.  It is comparable to other transactions of this nature.  ibid.  CFO

 

Total debt: £18 billion.  Estimated interest and fees: £800 million.  ibid.  captions   

 

All the profits that the company made were paid out in dividends, particularly in a period between 2006-2017.  ibid.  comment   

 

We’re not in a good place.  ibid.  employee

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